Loan Application

SKI does not charge an upfront retainer fee to review and analyze your project’s plan.

Generally speaking, the manner in which we will process your funding request is as follows: after the initial inquiry by the Client or Broker working on behalf of the Client and receipt of the Business Plan or very detailed Executive Summary, we will do an initial analysis to determine the probability of securing funding for the Client and also to determine if we want to work on the Client’s project funding request. If so, we will send an email response outlining to the Client or Broker, what specific documentation we will need in order to take the project to the next level.

After receipt of the signed Non-Compete & Non-Disclosure (NCND) Agreement and the formal Application, we will then review the documents and continue processing the loan request. If the package is not complete, we may request further documentation so that the review and processing can be as thorough as possible with the information provided. SKI will then perform the business analysis, select the appropriate Lender for your project, and package the file to be sent to the selected Lender for the next phase of risk analysis and due diligence.

The Lender will then conduct a careful review of the package. If the Client’s funding request meets the Lender’s criteria, the project will also be pre-qualified by the Lender and a formal proposal will be sent to the Client in the form of an engagementLetter of Interest (LoI) or Letter of Guarantee (LoG). The engagement LoI will outline the funding parameters of the transaction available to the Client based on the information available at that time.

When the client comes to a comfort level, and a “meeting of the minds” as to the language in the engagement LoI, agreement with the terms, and wish to proceed, then the client executes the engagement LoI Contract. The execution of the formal engagement LoI shows “good faith” to SKI and to the Lender that the client has read, understands, and is in full agreement with the terms of the engagement LoI. Depending on the protocols of the specific Lender chosen by SKI, they may proceed based on the executed LoI or they may issue a formal Application. If so, it will reflect the terms and conditions of the engagement LoI. At execution of the formal engagement LoI, an Application fee or Due Diligence fee may be required by the Lender from the client, subject to the complexity of the transaction, travel may be required, which is determined on a case-by-case basis.

Lastly, assuming that the client provides in a timely manner all of the needed documentation, 3rd party reports as needed, and complies with all underwriting requirements, funding may occur within 30-60 working days or less after receipt of all the items required by the Lender. (These procedures may vary based on the Client’s funding request and the specific Lender selected to work on your project.

Our Process:

Borrower submits Business Plan, NCND, Application and Passport to SKI.

SKI’s Managing Director reviews all documentation and determines if the project is fundable (1-3 business days) or needs additional information.

Project is submitted to the selected SKI Lender(s) and they accept or deny interest in financing the project.

If the SKI lender is interested, a Letter of Interest (LoI) is issued.

If approved, final closing contracts are issued to the borrower with specific time frames and closing schedule.

The transaction is closed and the full loan amount or 1st tranche is disbursed.